FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.108+0.001+0.93%
    AAJ.SI
    0.173+0.001+0.58%
    N21.SI
    0.83-0.02-2.35%
    Y92.SI
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    Z74.SI
    0.96+0.01+1.59%
    G13.SI
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    % Gainers
    NamePriceChange% Chg
    0.30+0.05+17.65%
    BKX.SI
    0.124+0.018+16.98%
    5H0.SI
    0.53+0.04+9.28%
    B58.SI
    0.15+0.01+8.70%
    UV1.SI
    0.65+0.05+8.33%
    BJW.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.245-0.030-10.91%
    BLZ.SI
    0.235-0.025-9.62%
    PA3.SI
    0.46-0.04-8.00%
    BFK.SI
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    I49.SI
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    BTG.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4213+0.005+0.36%
    USDSGD=X
    1.5254+0.0003+0.02%
    EURSGD=X
    1.7789+0.0041+0.23%
    GBPSGD=X
    80.0240+0.551+0.69%
    SGDJPY=X
    5.4557-0.0187-0.34%
    SGDHKD=X
    3.1201-0.0129-0.41%
    SGDMYR=X
    9,392.3076-39.6738-0.42%
    SGDIDR=X
    4.8227-0.0141-0.29%
    SGDCNY=X
    1.0776+0.0018+0.17%
    AUDSGD=X
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    1,209.00-6.60-0.54%
    GCG17.CMX
    17.11-0.07-0.41%
    SIH17.CMX
    91.91+0.66+0.72%
    ^XAU
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    CLG17.NYM
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